§431:16-202 Purpose. (a) The purpose of this part is to protect, subject to certain limitations, the persons specified in section 431:16-203 against failure in the performance of contractual obligations, under life and accident and health or sickness insurance policies and annuity contracts specified in section 431:16-203(b), because of the impairment or insolvency of the member insurer that issued the policies or contracts.
(b) To provide this protection, an association of insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of this part. [L 1987, c 347, pt of §2; am L 2002, c 155, §91]
Section: Previous 431-16-112 431-16-113 431-16-114 431-16-115 431-16-116 431-16-117 431-16-201 431-16-202 431-16-204 431-16-205 431-16-206 431-16-207 431-16-208 431-16-209 431-16-210 NextLast modified: October 27, 2016